India: The Union Government Is About to Finalize Green Building Incentives

CHENNAI, OCT. 27:  The Union Government will soon finalize a draft policy to provide non-financial incentives to encourage green buildings, said Arun Kumar Misra, Housing Secretary.

INCENTIVES

Addressing the Green Building Congress on Saturday, he said the Housing Ministry was supporting a number of incentives such as allowing additional built up space – over and above the permitted Floor Area Ratio or Floor Space Index, transferable development rights and interest subvention to encourage green buildings.

Green buildings or environment friendly buildings which are designed to conserve water, electricity and use recycled material in construction are key to addressing the challenges posed by the pollution in cities.

Even public sector housing programmes are preparing to design and build houses on the green building principles.

TRAINING PLANS

The Housing Department is keen to rope in experts from the Indian Green Building Council (IGBC) and the Confederations of Real Estate Developers Association of India (Credai) to train Government department engineers on green building concepts, he said at the event organised by the Confederation of Indian Industry (CII).

CREDAI PLEA

C. Shekar Reddy, National President, Credai, said the Government should consider doing away with Environment Ministry clearance for residential projects that are approved by the IGBC.

Source: Thehindubusinessline

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